CRM (Customer Relationship Management) is all aspects of interactions that a company has with its customers, whether it is sales or service-related. While the phrase customer relationship management is most commonly used to describe a business-customer relationship (B2C), CRM is also used to manage business to business (B2B) relationships. Information tracked in a CRM system includes contacts, clients, contract wins and sales leads and more.

Many aspects of customer relationship management rely heavily on technology; however, the strategies and processes of a good CRM system will collect, manage and link information about the customer with the goal of letting you market and sell services effectively. The biggest benefit most businesses realize when moving to a CRM system comes directly from having all your business data stored and accessed from a single location.

Storing all the data from all departments (e.g., sales, marketing, customer service and HR) in a central location gives management and employees immediate access to the most recent and relevant data when they need it. Departments can collaborate with ease, and CRM systems help organization to develop efficient automated processes to improve business processes.